Simulation of newsboy problem in inventory control utilizing spreadsheet

Simulation of newsboy problem in inventory control utilizing spreadsheet

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Article ID: iaor19961069
Country: Japan
Volume: 15
Issue: 1
Start Page Number: 25
End Page Number: 33
Publication Date: Jun 1994
Journal: Sanno College Bulletin
Authors:
Keywords: inventory
Abstract:

This paper examines a simulation model using a spreadsheet as a simple way of carrying out computer simulation to deal with issues in the Operational Research OR field. The spreadsheet is utilized here because it is easy to program, with tables and graphics. That means learners can study the basics of modeling without being bothered by trivia. It is also utilized because it is possible to do a simple inventory simulation in practice. In this paper, the so called ‘newsboy problem’, is discussed. First, the basic theory and knowledge of ‘newsboy problem’ were reviewed for modeling. The way of producing an algorithm, and programming the spreadsheet are illustrated. As a result, the use of spreadsheet in this simulation turned out to be very effective. [In Japanese.]

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